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Disruptive Technology

Context:

  • Recently, Air Chief Marshal V.R. Chaudhari stressed the need for investing in new and disruptive technologies in the Synergia Conclave 2023.
  • Synergia Conclave serves as a platform to draw together the most insightful ideas and solutions from around the globe

More on News:

  • Application of Disruptive technology:  Air Chief Marshal said that conventional knowledge would lead to incremental change but the innovative use of converging technology would lead to exponential change.

What Is Disruptive Technology?

  • Introduction: Clayton Christensen introduced the idea of disruptive technologies in a 1995 Harvard Business Review article. Christensen later expanded on the topic in The Innovator’s Dilemma, published in 1997
  • Disruptive technology is an innovation that significantly alters the way that consumers, industries, or businesses operate.
    • Some examples of disruptive technologies include online shopping, and ride-sharing apps, Blockchain.
  • A disruptive technology has the potential to replace the existing systems or habits through its attributes that are measurable and superior.
Advantages  Disadvantages 
Innovative benefits: One of the key features of disruptive technology is its ability to offer consumers new and notable benefits. 

  • For Example: The internet disrupted previous ways of gathering information, such as libraries, newspapers, and even social interactions
Unrefined inventions: New technology is typically untested and unrefined during its early stages and development can continue for years. During this time, businesses offering the technology may struggle to market an innovative product. 

  • For Example: Deep Fakes
    • A controversial video circulating online shows actress Rashmika Mandanna entering an elevator, but it’s actually a ‘deep fake.’ as  the original video features Zara Patel, a British Indian girl, with Mandanna’s face digitally inserted. 
Startup Opportunities: Disruptive technology provides opportunities for startup companies to gain a significant foothold in existing industries.

For example, 3D printing is an additive method of manufacturing. It uses blueprints from digital files or scans a three-dimensional object, uploads the image to a digital file, and then renders that image layer by layer.  A Dutch design company, MX3D, and Autodesk are collaborating with the City of Amsterdam to 3-D-print a metal bridge over one of the city’s canals.

Unproven applications: It can take time for a disruptive technology to find its place in the marketplace. The potential applications for the innovation are at first unproven. 

  • For example,  ChatGPT’s training corpus is largely built on texts produced before 2021. 
    • As a result, the information obtained may be incomplete and/or factually incorrect, especially in fields of study where new research is produced at a quick pace.
Business Growth: When an established business willingly embraces disruptive technology, it enjoys prime opportunities for growth either within its current industry or within a new industry that’s been created by the technology.

For example, Uber a rapidly growing ride-sharing service, has become the poster child for disruptive innovation. The traditional taxi cab business has suddenly been changed forever by a mobile platform connecting consumers who need rides with drivers willing to provide them.

Resistance in adoption: Disruptive innovations can be met with resistance from established players in the market. These players may try to protect their market share by blocking or delaying the adoption of the disruptive innovation.

  • For example: Recently, the Reserve Bank of India Governor Shaktikanta Das reiterated his call for an outright ban on cryptocurrencies, saying these are “nothing but gambling” and their “perceived value is nothing but make-believe.”

How is disruptive technology different from sustaining technology?

  • Most technology is considered sustaining rather than disruptive. Sustaining technology evolves slowly and steadily over time. 
  • Established businesses typically work with sustaining technologies that allow them to refine their production methods and corner a known market. 
  • However, over time a disruptive technology can become a sustaining technology as it becomes firmly established.

News Source: The Hindu

 

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